Anadarko to base 2019 capex on $50/b oil: CEO

Anadarko Petroleum will continue using a $50/b oil price assumption in 2019, the company’s CEO said Wednesday, even though current US prices are about 30% above that level. Receive daily email alerts, subscriber notes & personalize your experience. Register Now Still, Anadarko’s strategy is to deliver 10% or greater oil output growth year after year, and in 2018 expects more than 13% oil growth, which translates to 15% or more on a per debt-adjusted share basis, CEO Al Walker said during a conference call on the company’s third-quarter earnings. “We don’t need to seek significant additional oil growth this year to achieve our annual objective,” Walker said. “As we look ahead to 2019 we’ll continue to use a $50 [per barrel] oil price environment assumption to produce healthy multi-year double-digit oil growth,” he said. The company plans to release its 2019 capital budget later this quarter, he […]